DOLLAR-THB : USD/THB has inched higher this..........>

DOLLAR-THB : USD/THB has inched higher this morning and last sits +3 pips at

THB30.87, catching up with yesterday's demand for USD. The move has allowed the

pair to chew through some of its yesterday's losses.

- Bulls look for a break above the 200-DMA at THB31.11, which would turn focus

to Jun 17 high of THB31.24, a key near-term resistance. Bears keep an eye on

yesterday's low of THB30.81, the worst level since late Jan. A fall through

there would open up the 76.4% retracement of the Dec 30 - Apr 2 rally at

THB30.73.

- Just to recap, the BoT opted to leave its benchmark interest rate unchanged

yesterday, as expected by most analysts. Policymakers revised this year's GDP

projection to -8.1% Y/Y from -5.3%. They expressed concern with THB strength,

while pledging readiness to take steps to arrest currency appreciation if

needed.

- Thailand's foreign reserves will be released on Friday.